Sundaram Alternates raises $127M credit fund on domestic backing
What's the deal? India's Sundaram Alternates has raised $127 million for a credit fund, drawing largely on domestic limited partners. Karthik Athreya serves as managing director of the firm.
Who's backing it? External investors are split evenly between institutional investors and high-net-worth individuals and family offices, according to Athreya.
What's the endgame? The fund adds to Sundaram Alternates' growing credit franchise. The firm previously hit a first close of $25 million on a maiden corporate credit fund, and secured $111 million in commitments for a real estate credit fund.
The signal: The heavy reliance on Indian LPs points to deepening domestic capital pools for private credit, a strategy that lets local firms scale without leaning solely on foreign backers.
Read more: DealStreetAsia
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